We have made payment to the Real Estate Developer in 6 installments and will pay more in recent months . though , we are paying , we dont know the exact Agreement value since the developer does not know the construction value. we had already paid more than 50 Lakhs . My question is shall we deduct tds on Installment amount ? but at the same time we dont know the agreement value and the same need to mention in Form 26QB.
One Consultant suggests that you do not need to pay and deduct tds since the Property value is yet to determined by the developers.
Kindly throw some lights on the above issue.
CAclubindia
